Article 17. Increase in the amount of insurance premiums of the Law On Compulsory Insurance of Civil Liability of the Carrier to Passengers

Home / RLA / Article 17. Increase in the amount of insurance premiums of the Law On Compulsory Insurance of Civil Liability of the Carrier to Passengers

1. When concluding a contract of compulsory liability insurance of a carrier engaged in railway transportation, the amount of the insurance premium provided for in paragraph 2 of Article 16 of this Law may be increased by the insurer based on the results of its insurance risk assessment, but to an amount not exceeding 0.5 percent of the amount of income received (to be received) from the transportation of passengers and their property on the territory of the Republic of Kazakhstan during the period of validity of the carrier's compulsory liability insurance contract.

2. When concluding a compulsory liability insurance contract for a carrier engaged in other types of passenger transportation other than rail, the amount of the insurance premium provided for in paragraph 1 of Article 16 of this Law may be increased by the insurer based on the results of its insurance risk assessment, but not more than twice.

The Law of the Republic of Kazakhstan dated July 1, 2003 No. 444.

This Law regulates relations arising in the field of compulsory insurance of civil liability of the carrier to passengers, and establishes the legal, financial and organizational basis for its implementation.

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Republic of Kazakhstan

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